Quarterly report pursuant to Section 13 or 15(d)

Properties, Net (Tables)

v3.5.0.2
Properties, Net (Tables)
 6 Months Ended
Jun. 30, 2016
Real Estate [Abstract]  
Schedule of operating properties, net
Operating properties, net consisted of the following (in thousands): 
 
June 30,
2016
 
December 31,
2015
Land
$
455,355

 
$
463,305

Buildings and improvements
3,005,802

 
3,157,587

Less: Accumulated depreciation
(678,827
)
 
(700,363
)
Operating properties, net
$
2,782,330

 
$
2,920,529

Schedule of projects in development or held for future development
Projects in development or held for future development consisted of the following (in thousands):
 
June 30,
2016
 
December 31,
2015
Land
$
209,202

 
$
207,774

Development in progress, excluding land
178,195

 
221,445

Projects in development or held for future development
$
387,397

 
$
429,219

Components of assets held for sale
The table below sets forth the components of assets held for sale on our consolidated balance sheet for these properties (in thousands):
 
 
June 30, 2016
 
December 31, 2015
Properties, net
$
269,008

 
$
90,188

Deferred rent receivable
15,765

 
2,891

Intangible assets on real estate acquisitions, net
1,591

 
1,591

Deferred leasing costs, net
10,869

 
1,391

Lease incentives, net
3,351

 
721

Assets held for sale, net
$
300,584

 
$
96,782

Pro Forma results
The pro forma financial information was prepared for comparative purposes only and is not necessarily indicative of what would have occurred had these acquisitions been made at that time or of results which may occur in the future (in thousands, except per share amounts).
 
For the Three Months Ended June 30, 2015
 
For the Six Months Ended June 30, 2015
 
(Unaudited)
Pro forma total revenues
$
175,996

 
$
345,921

Pro forma net income attributable to COPT common shareholders
$
13,259

 
$
24,106

Pro forma EPS:
 
 
 
Basic
$
0.14

 
$
0.25

Diluted
$
0.14

 
$
0.25